Chubb (NYSE:CB) Issues Earnings Results, Beats Estimates By $0.12 EPS

Chubb (NYSE:CB) released its earnings results on Tuesday. The financial services provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.29 by $0.12, Briefing.com reports. The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. Chubb had a return on equity of 16.45% and a net margin of 18.11%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.41 earnings per share.

Chubb Stock Down 3.6 %

Shares of NYSE CB traded down $9.03 on Wednesday, reaching $240.85. 370,238 shares of the company’s stock traded hands, compared to its average volume of 1,712,051. Chubb has a 12 month low of $183.71 and a 12 month high of $260.58. The business’s 50 day simple moving average is $252.64 and its two-hundred day simple moving average is $235.15. The company has a market cap of $97.78 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 1.18 and a beta of 0.62. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20.

Chubb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.86 dividend. The ex-dividend date was Thursday, March 14th. This represents a $3.44 annualized dividend and a yield of 1.43%. Chubb’s dividend payout ratio (DPR) is presently 15.76%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CB. Evercore ISI raised their price objective on Chubb from $270.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Piper Sandler reaffirmed an “overweight” rating and set a $282.00 price objective on shares of Chubb in a research note on Monday, April 1st. Citigroup reaffirmed a “neutral” rating and set a $275.00 price objective (up from $238.00) on shares of Chubb in a research note on Thursday, March 14th. HSBC reaffirmed a “hold” rating and set a $270.00 price objective (down from $275.00) on shares of Chubb in a research note on Thursday, April 4th. Finally, Morgan Stanley increased their target price on shares of Chubb from $258.00 to $260.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $266.37.

Insider Buying and Selling at Chubb

In other Chubb news, CAO Annmarie T. Hagan sold 7,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the transaction, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Annmarie T. Hagan sold 7,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.04, for a total transaction of $1,759,387.20. Following the completion of the sale, the chief accounting officer now owns 6,105 shares of the company’s stock, valued at $1,495,969.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John J. Lupica sold 34,464 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $258.92, for a total transaction of $8,923,418.88. Following the sale, the insider now directly owns 130,937 shares of the company’s stock, valued at approximately $33,902,208.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,043 shares of company stock valued at $29,766,694. Corporate insiders own 0.86% of the company’s stock.

Chubb Company Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.